The Sixteen Acres neighborhood of Springfield, MA has been presenting some amazing opportunities lately for home buyers in the western massachusetts area. Â The volume of real estate for sale, coupled with pending short sales, and a steady stream of foreclosures is allowing first time home buyers to stretch their dollars much farther. Â Sure, some homes are selling for top dollar, but there are enough opportunities to go around if you're patient and willing to be flexible.
I came across this article, by way of an associate, and found some of the information very interesting:
According to this article, the median home price in Springfield, MA has risen for the past two quarters up to an amazingly affordable $123,600. Â That's great news for you if you're trying to sell, but don't let it deter you as a buyer. Â The deals are still out there, if you know where to look.
My real estate team has been able to close a few deals in the Sixteen Acres neighborhood around that price point above. Â We've also seen some short sales and foreclosures dip far below that into the $70 - $90,000 price range (but those properties are generally distressed and need rehab), and we've seen some really classy homes sell upwards of that $170,000 mark to the right buyer.
It's been about 6 months since I last wrote aboutÂ Housing Trends in Sixteen Acres, Springfield, MA. Â Seems that things haven't changed that much, with only a slight slow down in the rental business as we come into the winter weather (a lot of renters start to hibernate around this time and don't move again until Spring.) Â Best of luck with your buys, sells, and moves.